MIRA
INFORM REPORT
|
Report Date : |
04.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
ORG –
GFK MARKETING SERVICES [INDIA] PRIVATE LIMITED |
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Registered Office : |
Voltas
House, Z Block, 1st Floor, T B Kadam Marg, Chinchpokli, Mumbai –
400033, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
15.04.1998 |
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Com. Reg. No.: |
11-114473 |
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CIN No.: [Company
Identification No.] |
U51900MH1998PTC114473 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRO00284E |
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Legal Form : |
Private
Limited Liability Company. |
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Line of Business : |
Subject’s business specializes in
monitoring consumer technology, and particularly IT, telecommunications,
office communications, electronic entertainment, household electrical
appliances, photographic equipment and do-it-yourself products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
150000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well established company having satisfactory track. Trade relations are
fair. Financial position is good. Payments are correct and as per commitments.
The
company can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Voltas
House, Z Block, 1st Floor, T B Kadam Marg, Chinchpokli, Mumbai –
400033, Maharashtra, India |
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Tel. No.: |
91-22-56632700 |
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Fax No.: |
91-22-56632701 |
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E-Mail : |
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Website : |
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Corporate
Office : |
3rd
Floor, Bharat Yuvak Bhawan – 1, Jai Singh Road, New Delhi – 110001, Delhi,
India |
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Tel.
No.: |
91-11-52899101
/ 105 |
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Fax
No.: |
91-11-52899103 |
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E-Mail
: |
DIRECTORS
|
Name : |
Mr.
Michael Barna |
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Designation : |
Director
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Address : |
38 Tai
Tam Road, Pacific View, Hong Kong |
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Date of Birth/Age : |
24.04.1967 |
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Date of Appointment : |
28.06.2001 |
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Date Of Ceasing : |
01.10.2004 |
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Name : |
Mt.
Partha Rakshit |
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Designation : |
Director
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Address : |
15,
Iris Cuffe Parade, Mumbai – 400005, Maharashtra, India |
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Date of Birth/Age : |
25.04.1952 |
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Date of Appointment : |
02.10.2002 |
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Name : |
Mr.
Bert Groot Enzerink |
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Designation : |
Director
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Address : |
Weerdestein
141 1083, G J Amsterdam |
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Date of Birth/Age : |
31.08.2000 |
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Date of Appointment : |
01.02.2000 |
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Name : |
Mr.
Russell Farmery |
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Designation : |
Director
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Address : |
Voltas
House, ‘A’ Block, Dr. B. A. Road, Chinchpikli |
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Date of Birth/Age : |
07.07.1962 |
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Date of Appointment : |
05.07.2003 |
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Date of Ceasing : |
08.11.2004 |
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Name : |
Mr.
Sujit Das Munshi |
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Designation : |
Director
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Address : |
810/811
Hill Side C Wing, Raheja Vihar, Powai, Mumbai – 400072, Maharashtra, India |
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Date of Birth/Age : |
15.09.1967 |
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Date of Appointment : |
10.12.2004 |
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Name
: |
Soct
Kuehm |
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Designation
: |
Director
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Address
: |
Apartment
2193 21 F, Tower 17 Hongkong Park View 88 Tai Reservoir, Hongkong |
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Date
of Birth/Age : |
27.06.1962 |
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Date
of Appointment : |
02.11.2004 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
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No of Shares |
|
Acnielsen
Org Marg |
|
576923 |
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GFK
Aisa Pte Limited |
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384615 |
BUSINESS DETAILS
|
Line of Business : |
Subject’s business specializes in
monitoring consumer technology, and particularly IT, telecommunications,
office communications, electronic entertainment, household electrical
appliances, photographic equipment and do-it-yourself products. |
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GENERAL INFORMATION
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No. of Employees : |
250 |
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Bankers : |
Not
Available |
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Auditors : |
RSM
and Company Chartered
Accountants Ambit
RSM House, 449, Senapati Bapat marg, Lower Parel, Mumbai – 400013,
Maharashtra, India |
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Holding Company : |
Acnielsen
Org-Marg Private Limited CIN
No. : U74999MH1983PTC029651 |
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Joint Venture : |
v
Acnielsen
Org – Marg Private Limited v
GFK
Asia Pte Limited |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity
Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
961538 |
Equity
Shares |
Rs. 10/- each |
Rs. 9.615 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
9.615 |
9.615 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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32.963 |
18.426 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
42.578 |
28.041 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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42.578 |
28.041 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.318 |
1.630 |
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Capital work-in-progress |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.233 |
0.097 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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11.254 |
11.179 |
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Cash & Bank Balances |
|
35.500 |
19.752 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
19.620 |
12.451 |
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Total Current Assets |
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66.374 |
43.382 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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8.604 |
7.770 |
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Provisions |
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16.743 |
9.298 |
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Total Current Liabilities |
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25.347 |
17.068 |
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Net Current Assets |
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41.027 |
26.314 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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42.578 |
28.041 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover [including other income] |
|
68.795 |
52.792 |
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Profit/(Loss)
Before Tax |
|
21.976 |
15.384 |
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Provision
for Taxation |
|
0.734 |
5.864 |
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Profit/(Loss)
After Tax |
|
21.242 |
9.520 |
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Total
Expenditure |
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46.819 |
37.408 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
30.88 |
18.03 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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31.94 |
29.14 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
32.46 |
34.17 |
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Return
on Investment (ROI) (PBT/Networth) |
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|
0.52 |
0.55 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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|
0.60 |
0.61 |
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Current
Ratio (Current
Asset/Current Liability) |
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2.62 |
2.54 |
LOCAL AGENCY
FURTHER INFORMATION
GfK
Marketing Services
The ‘Retail and Technology’ business unit of GfK
Group
GfK
Marketing Services are the companies of the business division Retail and
Technology of the Gfk Group which is one of the leading market research
organizations worldwide.
Their
Tracking business specializes in monitoring consumer technology, and
particularly IT, telecommunications, office communications, electronic
entertainment, household electrical appliances, photographic equipment and
do-it-yourself products.
GfK
Marketing Services is monitoring the sales, either done traditionally or
online, of the above mentioned categories in the audited distribution channels
by means of the Gfk MS Retail Panel.
Globalization
has been a key factor in the success of their services for Consumer Technology
Markets ever since it was established. GfK Marketing Services has subsidiaries
and affiliates in more than 60 countries around the world. Clients receive
consistent reports on individual countries. But it is also possible to
aggregate data on a regional or even worldwide basis.
This
worldwide information system is based on common definitions of markets, retail
structures, product groups, models and features.
Standard
service includes the following information:
v Market
size in units and value
v Market
structures by technical features
v Market
structures by distribution channels
v Market
structures by prices and price classes
v Market
shares for individual brands and models
This
information can be provided bimonthly and in certain cases monthly or even
weekly.
With
their specially developed software clients can analyse the data and access it
online.
The
ability to combine data about markets, brands, models, outlet types, price
classes, etc. means that it can be analyzed in almost any form required by the
client.
This
data allows decision-makers to analyze their product structure, pricing and
distribution policy, and their position in relation to the competition.
GfK also
provides an article catalogue for consumer durable products - the ENCODEX New
Product Guide. This catalogue contains structured information on consumer
durables across Europe. It is accessible through the internet and covers the
following industry sectors:
v Consumer
Electronics
v Major
Domestic Appliances
v Small
Domestic Appliances
v Information
Technology
v Telecommunication
v Photo
The
ENCODEX New Product Guide provides you with up-to-date, detailed and accurate
information on all the consumer durable products including novelties. The user
friendly software allows fast access to the information and a simple comparison
of the models included.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court
Declaration :
No records exist to suggest that subject is or was the subject of any
formal or informal allegations, prosecutions or other official proceeding for
making any prohibited payments or other improper payments to government
officials for engaging in prohibited transactions or with designated parties.
3] Asset
Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record
on Financial Crime :
Charges or conviction registered
against subject: None
5] Records
on Violation of Anti-Corruption Laws :
Charges or investigation registered
against subject: None
6] Records
on Int’l Anti-Money Laundering Laws/Standards :
Charges or investigation registered
against subject: None
7] Criminal
Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation
with Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation
Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA
INFORM as part of its Due Diligence do provide comments on Corporate Governance
to identify management and governance. These factors often have been predictive
and in some cases have created vulnerabilities to credit deterioration.
Our
Governance Assessment focuses principally on the interactions between a
company’s management, its Board of Directors, Shareholders and other financial
stakeholders.
CONTRAVENTION
Subject
is not known to have contravened any existing local laws, regulations or
policies that prohibit, restrict or otherwise affect the terms and conditions
that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.83 |
|
UK
Pound |
1 |
Rs.85.36 |
|
Euro |
1 |
Rs.57.21 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit
history (10%) Market
trend (10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base
with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|